SK JAPAN CO., LTD., First Half Ordinary Profit Decreases by 9%

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Fri Oct 11, 2024 2:00 pm JST Earnings

7608 SK JAPAN CO., LTD. 【J-GAAP】

Earnings Report

SK JAPAN CO., LTD. <7608> [TSE-S] announced its financial results in the afternoon session on October 11th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) decreased by 9.2% from the same period last year to 590 million yen. However, The progress rate against the 1 billion yen full-year plan was 59.0%, also surpassing the five-year average of 55.4%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the September to February period (second half) is expected to decrease by 3.1% from the same period last year to 410 million yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 281 million yen, a 19.0% decrease compared to the same period last year. The operating profit margin decreased from 11.5% in the same period last year to 8.3%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Mar - Aug, 2022	4,508	335	344	238	28.9	62.7	Oct 14, 2022	J-GAAP
Mar - Aug, 2023	5,184	595	650	452	54.6	60.6	Oct 13, 2023	J-GAAP
Mar - Aug, 2024	6,324	585	590	417	50.1	59.0	Oct 11, 2024	J-GAAP
YoY	+22.0%	-1.7%	-9.2%	-7.7%	-8.1%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar - Aug, 2024 Guidance	ー	ー	ー	ー	－	10	Apr 12, 2024	J-GAAP
Mar - Aug, 2024 Results	6,324	585	590	417	50.1	10	Oct 11, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	5,428	397	423	303	36.5	10	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	4,676	415	410	283	34.0	15	Oct 11, 2024	J-GAAP
YoY	-13.9%	+4.5%	-3.1%	-6.6%	-7.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	9,731	577	549	379	45.9	12	Apr 14, 2023	J-GAAP
Feb, 2024	10,612	992	1,073	755	91.0	17	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	11,000	1,000	1,000	700	84.0	25	Apr 12, 2024	J-GAAP
YoY	+3.7%	+0.8%	-6.8%	-7.3%	-7.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	2,750	317	347	242	29.2	11.5	Oct 13, 2023	J-GAAP
Sep - Nov, 2023	2,484	213	219	151	18.2	8.6	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	2,944	184	204	152	18.3	6.3	Apr 12, 2024	J-GAAP
Mar - May, 2024	2,811	292	309	222	26.8	10.4	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	3,513	293	281	195	23.5	8.3	Oct 11, 2024	J-GAAP
YoY	+27.7%	-7.6%	-19.0%	-19.4%	-19.7%